Yamaha Half-Year Sales Up 11.3%

Japan's Yamaha Motor Co. Ltd. says net sales for the six months ended June 30, 2005, were 677.0 billion yen, profit was 56.75 billion yen, and operating income was 56.7 billion yen.
Yamaha changed its accounting period to calendar year last year. Previously, its business year started on April 1.
Comparing the results for the first half-year ended June 30, 2005 with those for the six-month period from January 1, 2004 through June 30, 2004, net sales and operating income increased by 11.3% and 1.7%, respectively.
Broken down by business segment, motorcycle sales during the first six months of 2005 totaled 381.2 billion yen; sales of marine products totaled 133.2 billion yen; power product sales were 92.4 billion yen; and sales in the “other products” segment reached 70.1 billion yen. Compared with the figures for the previous period, sales in all business segment rose.
Yamaha raised its forecast consolidated business results for the full fiscal year ending December 31, 2005, to net sales of 1,320 billion yen (a 7.3% increase from the target at the beginning of the fiscal year). It expects net income of 60 billion yen (a 27.7% increase from the original target).
The upward revisions are due to updated expectations of higher sales than the original targets in all business segments, as well as higher operating income than the original targets for marine products, power products and the “other products” segment.
The forecast is based on the assumption that the U.S. dollar will trade at 105 yen during the period (an appreciation of three yen from the target at the beginning of the fiscal year), and the euro at 135 yen (a depreciation of two yen from the original target).
As with other exporters, a weaker yen benefits Yamaha, which earns about 90% of its revenues overseas.
In related news, Yamaha plans to bolster its main motorcycle business in the emerging markets of Brazil, Russia, India and China, reported the Nihon Keizai Shimbun, without citing sources.
The newspaper said Yamaha aims to increase its total motorcycle sales in these countries to more than one million units by 2007 - 60% more than last year's sales.

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